SBA Paycheck Protection Program Loan: First-Time Community First Fund PPP Borrowers
Is this the first time you are applying for an SBA Paycheck Protection Program (PPP) Loan with Community First Fund? Did you receive a PPP Loan last year through another financial institution and want to apply with us this time around? Than you are in the right place. Our streamlined PPP Loan application process can help you fill out your application, upload required documents, and submit your completed application to the SBA.
Basic Program Guidelines
Businesses with less than 500 employees that are negatively impacted by the pandemic can apply for their first PPP loan. Previous PPP loan recipients with less than 300 employees can also qualify if they have experienced more than a 25% drop in revenue quarter over quarter from the previous year.
- Loans available up to $2,000,000
- 1.00% interest rate and no payments for the first 10 months
- No collateral or guarantee required
- 100% federally guaranteed funds
- PPP loan proceeds can be used for costs related to payroll, rent or lease, mortgage interest payments, utilities services, operational expenses, property damage, supplier costs, and worker protection expenses
Prepare to Apply
To help you effectively prepare for your application, we have included prep lists for both first-time and second-time borrowers. These lists will tell you exactly what documentation you will need to successfully complete your PPP application. Make sure you click and read the prep list that matches your borrower category.
START YOUR APPLICATION
IMPORTANT! Do NOT click this application link if you received a PPP loan from Community First Fund or FINANTA during Round 1 in 2020. We have a separate application process for Second-Time Community First Fund and FINANTA PPP Borrowers. If you are a Second-Time Community First Fund PPP Borrower, please return to our SBA Paycheck Protection Program webpage and and click the “Second-Time Community First Fund PPP Borrowers” button.CLICK HERE TO START YOUR APPLICATION